Gateway Investment Advisers LLC Has $12.15 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Gateway Investment Advisers LLC reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 19.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,227 shares of the real estate investment trust’s stock after selling 19,347 shares during the period. Gateway Investment Advisers LLC’s holdings in Extra Space Storage were worth $12,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in EXR. Graypoint LLC raised its stake in shares of Extra Space Storage by 4.3% in the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 65 shares in the last quarter. Hummer Financial Advisory Services Inc increased its holdings in Extra Space Storage by 1.2% in the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock valued at $1,067,000 after buying an additional 70 shares during the period. Buckley Wealth Management LLC raised its stake in shares of Extra Space Storage by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $687,000 after buying an additional 71 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Extra Space Storage by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 77 shares during the period. Finally, Aptus Capital Advisors LLC boosted its position in shares of Extra Space Storage by 5.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

EXR opened at $151.63 on Friday. The company has a fifty day moving average price of $157.58 and a two-hundred day moving average price of $164.84. The firm has a market capitalization of $32.14 billion, a PE ratio of 39.69, a P/E/G ratio of 7.18 and a beta of 0.91. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same period last year, the firm earned $2.02 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.27%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s payout ratio is 169.63%.

Analyst Ratings Changes

EXR has been the subject of a number of analyst reports. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Barclays reduced their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial increased their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Finally, Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and an average price target of $171.25.

Extra Space Storage Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.